SoftBank is planning a potential IPO in the U.S. for its Japanese payments app operator PayPay, with Goldman Sachs, JPMorgan, Mizuho, and Morgan Stanley leading preparations. The offering could raise over $2 billion as early as the final quarter of this year. PayPay offers rebates on mobile payments and financial services like banking and credit cards. SoftBank aims to list PayPay in the U.S., the conglomerate’s first major IPO since Arm Holdings in 2023. U.S. IPO activity has rebounded, driven by strong tech earnings and trade progress. PayPay’s ownership is split between SoftBank Corp, Vision Fund, and LY Corp, a joint venture with Naver Corp.

Read more at Yahoo Finance: Exclusive-SoftBank selects banks for US IPO of payments app PayPay, sources say